Revenue Hub
JANUARY 18, 2024
And more importantly: how can you use this knowledge to optimize your pricing, marketing and conversions? The answers to these and many more questions lie in hotel competitive analysis. Subscribe to our weekly newsletter and stay up to date What Is a Competitive Analysis in the Hotel Industry?
Revenue Hub
JULY 13, 2023
Competitive Analysis TRevPAR is a useful metric for comparing your performance to that of your competitors. Through this analysis, they may discover that their competitor offers higher-priced menu items. The Beauty of TRevPAR and Why It’s Important If KPIs get you excited, TRevPAR will knock your socks off.
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Revenue Hub
JULY 24, 2023
When used strategically, your data can unlock hidden opportunities and make more informed decisions for budgeting, cost optimisation, marketing, and forecasting – all aspects of which determine the value and profitability of your venue space. This can assist in determining appropriate pricing strategies.
Revenue Hub
NOVEMBER 9, 2022
This article discusses the three most important strategies hotel revenue managers must use to boost revenue and how a revenue management system (RMS) is being used to forecast demand and automatically perform dynamic pricing. Dynamic pricing. For this reason, it is sometimes referred to as time-based pricing. Key takeaways.
Hotelogix
OCTOBER 19, 2023
To get a clear picture of your hotel compset analysis, you need to start with the following steps: Define your goals for competition, such as attracting more guests or increasing prices for greater revenue, or improving services compared to competitors. Pricing - Take out the average pricing of rooms of the inventory.
Les Roches
JANUARY 25, 2024
Hotel industry players who can leverage data effectively gain valuable insights that can influence their strategic decisions, from setting room prices to designing hotel marketing strategies. Revenue management Data analysis can significantly transform revenue management within the hospitality sector.
The Restaurant Times
FEBRUARY 25, 2022
So take your time choosing food products and buying them at more reasonable prices. Many first-time owners tend to choose a location too expensive for their budgets. Outsourcing this role by creating a budget for advertising and investing in a good marketing plan can work wonders. Pay Attention To Location And Rentals.
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